Businessman Mr Bernard Collins has been selected as the new chairman of the VHI following the decision of Mr Derry Hussey to stand down.
Mr Collins will take up the position in September when Mr Hussey leaves the post, which he has held since March 1997.
Mr Collins is chief executive of Lifemed Consulting and a non-executive director of IDA Ireland and Boston Scientific International. He is also a director of the American Chamber of Commerce and a Government appointee to the National Competitiveness Council.
The Minister for Health, Mr Martin, thanked Mr Hussey for his work, stating that he had been "a very effective chairman of a company in transition and has overseen the development of a more financially secure position for the VHI".